Systems security was a chief concern of single- and multi-family office participants in a recent survey by Family Office Exchange.
Survey participants answering questions about their technology practices said another big concern was finding a software solution that integrates financial data across multiple functions.
Family offices’ sensitivity to security applied to both data and the communication of data. Seventy-one percent of participants said they did not send financial information to clients’ mobile devices.
In spite of these concerns, 56% expressed confidence in their security practices.